Grab-Uber updates
LATEST UPDATE: September 11, 2019 - 12:26pm
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September 11, 2019

Uber says it was laying off about eight percent of its product and engineering teams as the smartphone-summoned ride service tries to map a route to profitability.

The San Francisco-based company is cutting about 265 people from its engineering group and another 170 or so jobs from its product team, a spokesman says. 

While a fast-growing startup, ranks of Uber employees swelled to more than 27,000 employees around the world and the time had come to shift gears and cut ranks for efficiency, according to the company. — AFP

August 28, 2019

Ride-hailing giant Grab says it will invest $500 million over five years in Vietnam, the company's latest expansion in a key Southeast Asian market. 

The Singapore-based firm has grown rapidly since it ended a bruising battle with Uber last year by buying its US rival's ride-hailing and food operations in the region.

Grab, which operates in eight Southeast Asian countries, has already invested more than $200 million in Vietnam since entering the market in 2014. — AFP

August 28, 2019

Ride-hailing giant Grab says it will invest $500 million over five years in Vietnam, the company's latest expansion in a key Southeast Asian market. 

The Singapore-based firm has grown rapidly since it ended a bruising battle with Uber last year by buying its US rival's ride-hailing and food operations in the region.

Grab, which operates in eight Southeast Asian countries, has already invested more than $200 million in Vietnam since entering the market in 2014. — AFP

April 19, 2019

Japanese car giant Toyota and investment fund SoftBank Vision Fund unveil an investment of $1 billion in US company Uber to drive forward the development of driverless ridesharing services.

The latest cash injection, expected to close in the third quarter this year, came amid fevered anticipation of Uber's public share offering which is expected to be the largest in the tech sector for years. — AFP

March 6, 2019

Southeast Asian ride-hailing firm Grab says it has secured $1.5 billion in fresh financing from a fund run by Japan's SoftBank and will use a significant portion of it to expand in Indonesia.

Grab has seen its business grow rapidly since it bought US-based rival Uber's regional ride-hailing and food business in March last year. Uber received a 27.5 percent stake in Grab in return. — AFP

November 15, 2018

Ride-share company Uber says that its net loss topped a billion dollars in the recently ended quarter as it pumped money into bikes, scooters, freight and food delivery.

While a private company, Uber has taken to sharing quarterly earnings figures as it prepares for a keenly-anticipated debut on the stock market next year. — AP

November 3, 2018

 Nearly eight months after one of its autonomous test vehicles hit and killed an Arizona pedestrian, Uber wants to resume testing on public roads.

The company has filed an application on with the Pennsylvania Department of Transportation to test in Pittsburgh, and it has issued a lengthy safety report pledging to put two human backup drivers in each vehicle and take a raft of other precautions to make the vehicles safe. — AP

August 28, 2018

Uber is teaming up with Toyota to build self-driving cars for its ride-hailing service after its efforts to do it alone were derailed by a fatal collision and allegations of high-tech theft.

Toyota, based in Japan, is also investing $500 million in Uber as part of the alliance announced Monday. — AP

April 7, 2018

The Philippines’ antitrust agency on Saturday has ordered Uber to continue its operations in the country, as the competition watchdog reviews Grab’s takeover of the California-based ride-sharing company’s operations.

The directive was issued despite the scheduled termination of the Uber App next week.

Read full story: Competition watchdog orders Uber to continue services beyond April 8

March 26, 2018

Grab Philippines has confirmed that it has acquired the operation of Uber's business in Southeast Asia.

The deal between Grab and Uber signals a wider network of drivers and passengers and improved ride-sharing services.

"With a larger fleet of drivers on our platform, passenger transportation needs will be met faster. Passengers will get to enjoy shorter waiting times, more convenient and affordable rides through one platform," Grab Philippines country head Brian Cu said in a statement.

Uber is believed to announce today the sale of its ride-hailing business in Southeast Asia to its rival Grab, Bloomberg reports.

Bloomberg sources say the deal covers all of Uber’s operations in Southeast Asia including Uber Eats. They add that the agreement gives Uber a stake of between 25 percent and 30 percent in the new combined business.  

The deal signals Uber's exit from another major market after it sold its business in China in 2016 and Russia in 2017 to local rivals Didi Chuxing and Yandex, respectively.

Uber and Grab has been the subject of a Land Transportation Franchising and Regulatory Board crackdown last year for allowing drivers without a certificate of public convenience, which allows them to operate, to drive.

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